Template layouts act as different page or email types that you can save and reuse. For example, you may have a certain layout for secondary web pages, or a blog post, or one for your email newsletter.
Adding and editing layouts is done in the theme editor; from your dashboard click the edit icon ()
You can build out your layout in the editor, then go to the layouts sidebar on the left via the layouts icon (), and click the Save current layout button to save it
If you want to make changes to a layout, click the edit icon () next to the saved layout you want to edit
Use the settings icon () for a layout to change the layout's name, or to delete it
When creating a new page or email, you will see a dropdown option to Start from Layout which will allow you to use the layouts you have available